Announced the availability of a WattUp Near Field transmitter through Energous partner, IDT International Limited.

Reduced operating expenses from prior quarter by approximately $1.0 million.

Was invited to present the WattUp technology at the USPTO to patent examiners from the U.S., Canada and Mexico.

Recent Highlights

Energous made significant headway in the global regulatory campaign with the addition of 54 new country approvals, including India and Canada. To date, Energous is approved to ship in 92 countries worldwide (up from 38 countries at the end of Q1 2018).

“Continuing to execute on moving to market with WattUp, Energous received orders and shipped chipsets to multiple customers in the quarter,” said Stephen R. Rizzone, president and CEO. “We also achieved additional certifications from 92 countries, and increased our engineering services revenue from last quarter, and increased our patent count to 167. The company’s pipeline continues to be robust as we complete engineering milestones and make advances toward a WattUp enabled ecosystem.”

Note about Non-GAAP Financial MeasuresIn addition to the unaudited results presented in accordance with generally accepted accounting principles, or GAAP, Energous presents adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA is determined by taking net loss and eliminating the impacts of interest, taxes, depreciation, amortization and stock-based compensation. The company's definition of adjusted EBITDA may not be comparable to the definitions of similarly-titled measures used by other companies. Energous believes that this non-GAAP financial measure, viewed in addition to and not in lieu of its reported GAAP results, provides useful information to investors by providing a more focused measure of operating results. This metric is used as part of the company's internal reporting to evaluate its operations and the performance of senior management. A table reconciling this measure to the comparable GAAP measure is available in the accompanying financial tables below.

About Energous CorporationEnergous Corporation is the developer of WattUp® -- an award-winning, wire-free charging technology that will transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. WattUp differs from older wireless charging systems in that it delivers contained power, at a distance, to multiple devices -- thus resulting in a wire-free experience that saves users from having to remember to plug in their devices. For more information, please visit Energous.com.

Safe Harbor StatementThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. All statements in this release that are not based on historical facts are "forward-looking statements." Examples of forward-looking statements include, among others, our statements about the timing of required regulatory approvals, number and timing of potential orders and customers' product launches, and commercialization of our technology. While management bases its forward-looking statements in this release on its current expectations, the information on which those expectations were based may change. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Many factors could cause our actual results and financial condition to differ materially from expectations, including: our ability to develop commercially feasible products; receipt of necessary regulatory approvals; timing and size of new orders and recognized revenue; dependence on strategic relationships; fluctuations in product development expenses such as tape-out costs; market acceptance of our technology; competition in our industry; our ability to protect our intellectual property; and other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date made. Except as otherwise required by law, we disclaim any obligation to release any updates or revisions to our forward-looking statements to reflect any change in our expectations or other developments, conditions or circumstances on which our statements are based.